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The Real Unemployment Number: 102 Million Working Age Americans Do Not Have A Job

TheEconomicCollapseBlog, June 5, 2017

Did you know that the number of working age Americans that do not have a job right now is far higher than it was during the worst moments of the last recession? For example, in January 2009 92.6 million working age Americans did not have a job, but in May 2017 the number of working age Americans without a job increased to just a shade under 102 million. According to the federal government, the “unemployment rate” in May was the lowest that we have seen in 16 years. At just “4.3 percent”, we are essentially at “full employment”, and so according to them anyone that really wants a job should be able to find one pretty easily.

Of course that is a load of nonsense. John Williams of shadowstats.com tracks what our economic numbers would look like if honest numbers were being used, and according to his calculations the unemployment rate is currently 22 percent.

In May, we were told that the U.S. economy added 138,000 jobs, but that is not even enough to keep up with population growth. When you look deeper into the numbers, in May the U.S. economy actually lost 367,000 full-time jobs. That is an absolutely nightmarish figure.

But somehow the “unemployment rate” in May fell from “4.4 percent” to “4.3 percent»!

For years the government has been taking large numbers of people from the basket known as “officially unemployed” and dumping them into another basket known as “not in the labor force”. Since those that are “not in the labor force” do not count toward the official unemployment rate, they can make things look better than they actually are by moving people into that category.

In May, the government added a staggering 608,000 Americans into the “not in the labor force” category. So now the number of working age Americans “not in the labor force” has reached a total of 94.98 million. When you add that total to the number of Americans that are “officially” unemployed (6.86 million), you get a grand total of 101.84 million.

In other words, when you round up to the nearest million you get a grand total of 102 million Americans that do not have a job right now.

So if the number of working age Americans without a job has risen by 9.21 million since January 2009, are we really doing so much better than we were during the depths of the last recession?

And of course all of the above assumes that the numbers that the government is giving us accurately reflect reality, and that is highly questionable.

For example, according to one recent analysis the “business birth and death model” has accounted for 93 percent of all “new jobs” reported by the government since 2008… A

full 93% of the new jobs reported since 2008 – 6.3 million out of 6.7 million – and 40% of the jobs in 2016 alone were added through the business birth and death model – a highly controversial model which is not supported by the data.

There is no way in the world that we are anywhere near “full employment”.

Over the past ten years the average rate of economic growth in the United States exactly matches the average rate of economic growth that the U.S. experienced during the 1930s.

Just prior to the last recession there were 26 million Americans on food stamps, and now we have 44 million. We are on pace to absolutely shatter the all-time record for store closings in a single year, and the number of homeless people living in Los Angeles County has risen by 23 percent over the past 12 months.